Yeah, well, within certain tolerations you're right. What kept hitting me was the USD getting higher and higher in interest - finally I said 'enough'. However, remember, I had moved several successful shorts in and out closing in good profit from the 112s downward, I think. So, the overall trade probably carried itself. Just that, with USD/JPY being so flat the last few weeks it was reaching the point of carrying a pure loser without much incentive to keep it open. With the recent Japan events the rate should have / could have at least moved a cent or two down - it didn't. Apparently focus on the strength of the USD is outweighing even potential profits to be made owning the yen. But, make no mistakes, the yen weakens to the level of 112.50s, I'm back in short because there's plenty of money to be made. fx
Opened a short on USD/JPY at 111.31. TP... whatever I can get! 50-pips+?? 25-pips? good luck yen longs! sKaLpZ
thanks, and actually, I'm prepared for the trade to go against me. however, it may go my way - it's all I need to nail some profit. I don't see USD/JPY going straight up - I think it will drop back below opening sometime during the week - that's when I can swipe some money and get out. skz